Get a unique, high-quality and non-plagiarized paper from us today at the most affordable price
Email us :

Iowa Steakhouse

  1. Iowa Steakhouse opened a new restaurant on the site of an existing building. It paid the owner $520,000 for the land and building, of which it attributes $104,000 to the land and $416,000 to the building. Iowa incurred legal costs of $25,200 to conduct a title search and prepare the necessary legal documents for the purchase. It then paid $71,800 to renovate the building to make it suitable for Iowa’s use. Property and liability insurance on the land and building for the first year was $24,000, of which $8,000 applied to the period during renovation and $16,000 applied to the period after opening. Property taxes on the land and building for the first year totaled $30,000, of which $10,000 applied to the period during renovation and $20,000 applied to the period after opening. Calculate the amounts that Iowa Steakhouse should include in the Land account and in the Building account. (10 points)


  2. Sears reports in millions of dollars on its balance sheet for year-end Year 6 and Year 5 as follows:



Year 6 

Year 5 

Credit Card Receivables



Less: Allowance for Uncollectibles




It reports charge-offs [synonym for write-offs] of accounts receivable during Year 6 of 4.5 percent of its average gross receivables of $26,000 million and that Bad Debt Expense is 3.5 percent of credit card sales. What were Sears’ credit card sales for Year 6? (6 points)


  1. For the following six items, assume that Talbot Company, a growing profitable company, has large and growing inventories. Assume that Talbot Company has been using a FIFO cost flow assumption and plans to switch to LIFO for both financial reporting and tax reporting. Assume that Talbot pays all income taxes currently, as accrued, in cash.



    Fill in each of the blanks below with one of these: larger, smaller, unchanged, or insufficient (information given to answer question). Several years after the switch from FIFO to LIFO: (12 points)


1. Working capital will be __________.
2. Accounts payable will be __________.
3. On the statement of cash flows, cash provided by operating activities will be ___
4. Total shareholders’ equity will be __________.
5. Deferred tax balance on the balance sheet will be __________.
6. Inventory turnover will be __________.


  1. Inventory flows for Toy Elmo Company for the month of January are as follows:



# of units

Unit cost

Beginning inventory*




January 3



January 15



January 17




January 5


January 18


January 24





*Assume the same for FIFO, LIFO, and weighted average cost flow assumptions.






Compute the cost of goods sold and ending inventory for the Toy Elmo Company using cost flow assumption and the following assumptions: (18 points)




a. FIFO under a periodic inventory system
b. LIFO under a periodic inventory system
c. Weighted average under a periodic inventory system
d. FIFO under a perpetual inventory system
e. LIFO under a perpetual inventory system
f. Weighted average under a perpetual inventory system
 Place your order now for a similar paper and have exceptional work written by our team of experts to guarantee you A Results

Why Choose US

6+ years experience on custom writing
80% Return Client
Urgent 2 Hrs Delivery
Your Privacy Guaranteed
Unlimited Free Revisions

Looking for a similar assignment. Place your order for a similar paper now and have excellent work written by our team of professionals to ensure you acquire the best grades.

If you find it difficult to balance your work and your studies because you are overwhelmed by other responsibilities, you have come to the right place . With the help of our dependable and simple-to-use essay and research writing service, students are able to focus on work or non-academic-related duties that they are required to carry out and complete all their school work on time .

We assist students who are struggling with their academic endeavors by allowing them to obtain essay assistance from  professional essay writers. We are never late for a deadline. When you ask our writer to write your paper, the assignment can be completed in as little as 12 hours or as long as 2 weeks. The order’s deadline is entirely up to you. 

Place an order of your assignment if you are in urgent need of assistance because your essay is due in a few hours/days or you do not know how to complete your professor’s academic assignment. We are here to assist you. You are guaranteed of high grades through our services. 

How to Place an Order 

When you want Premiered Tutorials to do your homework for you, you send the assignment details such as the instructions, due date/deadline, number of pages and college level to the customer support agent online on live chat,  fill in the assignment details at place an order or send the information to our email address and a customer support agent will respond to you immediately. 

Premiered Tutorials has competent writers to handle any of your assignments. Once you place your order, we choose for you the best and competent writer for your assignment based on each writer’s competence in handling a subject. 

When the homework is completed, we have a quality assurance team that proofreads the assignment to ensure it meets the required rubric instructions from your professor.

After thorough review of your assignment, we send the paper to the client. In case you need any changes at this point, you can let us know so that we can handle it for you at no extra charge. 

Why Premiered Tutorials?

If you need professional online homework help at a cheap price from professional and thoroughly vetted online homework helpers, reach out to the best homework help website, Premiered Tutorials.

Whether you are in high school, undergraduate, masters or PhD level, we have the best academic writers to assist you with your homework. We thoroughly vet all our online homework helpers to ensure they are competent to handle our clients’ tasks. Some of the requirements we have is ensuring that they are English Native speakers, have all attended colleges and had high grades in their undergraduate, Masters and PhD classes and have worked as academic writers and delivered high results.

We are a reliable and best essay writing website in the market. Our assignment help services or rather what our clients ask us to do for them include take my online class for me, order an essay cheap, pay someone to write my essay, help with my assignments, history homework help, college homework help, essay writing help online, answers for your homework, pay someone to do my homework for me, homework answers math, pay someone to take my proctored exams and nursing homework assignment help online. As the best website for homework answers, our homework doers also offer cheap essay writing services, online assignment help for all classes

  • Law/ Criminal Law
  • Nursing
  • Information Technology
  • Psychology
  • Business
  • Statistics
  • Sociology
  • History
  • Communication
  • Culture and Society
  • Biology
  • Astronomy
  • Engineering

The courses indicated above are just but a small group of the types of classes Premiered Tutorials handles.

We have competent homework writers that can handle all academic disciplines regardless of the level of education of our clients.

  When we do your homework for you, we write it from scratch to ensure you receive a unique paper. It also ensures that every homework we do for you is free from plagiarism and will help the client to get the highest grades in his or her classes. Any client who manages to consistently use our homework help services is guaranteed of always having the best grades and being one of the top students in the class because we always deliver the best quality for any homework we do for you.

When we complete working on your homework, we deliver the paper to you on time as we are well aware that the work we handle, is time sensitive. Timely deliveries of assignments help our clients get the highest grades because missed deadlines on assignments can result to deductions of marks for late submissions. Therefore, you will always be assured of quality online homework help through Premiered Tutorials whenever you ask us to do your homework for you.

Why we should write your Paper 

  1. Money Return guarantee
  2. 0% Plagiarism Rate
  3. Guaranteed Privacy
  4. Written from scratch by highly qualified writers 
  5. Communication at Any Time (24/7)
  6. Flexible Pricing and Great Discount Programs
  7. Timely Deliveries
  8. Free Amendments

Statistics about Us

130 New Projects
235 Projects in Progress
315 Inquiries
420 Repeat clients

© 2021 Premiered Tutorials
All rights reserved. We provide online custom written papers, such as term papers, research papers, thesis papers, essays, dissertations and other custom writing services.

All papers inclusive of research material are strictly intended to be used for research and study purposes only. Premiered Tutorials does not support or condone plagiarism in any form. These custom papers should be used with proper reference.

Place an Order
error: Content is protected !!